Ford Concerned About Brexit 0

Ford-Concerned-About-BrexitWith the referendum soon upon Britain for membership in the EU, many companies from all over the world are looking at the polls and are consequently developing new business plans for what looks like an ever increasingly more likely Brexit. Of course these plans will be implemented if Britain leaves the EU but in the mean time, big companies like Ford, can only warn of impending uncertainty and they have recently just done this.

Ford is therefore warning that they do not know if they will be investing in Great Britain if they decide to leave. The American motoring giant has stated that an exit may put their company at a risk which they do not want to take. At this moment in time, the UK is Fords biggest market in Europe whilst Europe is Fords second biggest motoring market globally.

Jim Farley, as CEO of Ford, stated that they ‘are the number one brand in the U.K. and for us the uncertainty which we’ve seen in the currency is a significant issue for our 14,000 employees… The U.K. is our biggest market. The certainty on what will happen in the case of ‘Leave’ has significant issues for us as a business. This is an unprecedented situation, for us a really critical one for the future of our business’. This will not bode well for the UK if a huge company like Ford decides to pull out of any future investment

Ford currently employs around 14,000 people here in the UK and to show just how serious a ‘remain vote’ is, a letter has been sent to each employee urging them to vote to stay as part of the European Union. If one of the world’s largest companies is worried about financial instability because of an EU exit, then it must surely be taken seriously.